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Psychologicaltrading

June 4 - One Good Trade a Day Is All You Need — Here’s Why🎯 You Don’t Need 20 Trades a Week. You Need One Good Trade a Day. Let’s be real. Most traders aren’t losing because they lack a good strategy. They’re losing because they can’t sit still. They chase every flicker. Every micro pullback. Every illusion of momentum. 20 pips here. minus 30 pips there. A breakeven day, again. But the truth is this: One clean setup a day is enough. Or, two/three a week is often more than enough — if you trade it with clarity, risk control, and patience. 📌 Here’s what changes when you stop overtrading: • Your entries get sharper. • Your stop losses get respected. • Your profits grow — because you stop giving them back. Most people are addicted to action, not results. ⚜️ Why This Is Especially True for GOLD Gold isn’t your friendly trending pair. It’s a liquidity predator. • It hunts impatience. • It punishes early entries. • It gives you 200+ pip moves — but only if you survive the manipulation before it happens. 🔁 This pair does not reward those who chase. It rewards those who plan, react, and execute only once price confirms. 💥 Stop Trying to Trade Every Move Gold gives you clear shifts in structure, clean order blocks, and premium-discount imbalances. But you have to wait for them to line up. If your plan is solid, price will come to you. If your mindset is weak, you’ll go chasing price. And that’s when gold takes your money. 🧘‍♀️ If You Feel Anxious When You’re Not in a Trade — That’s the Problem. That’s not a lack of strategy. That’s a lack of discipline. Work on your mindset the same way you work on your chart skills. Because psychology is 80% of this game, and almost nobody teaches it right. ✅ Want to Evolve? Study price action and reaction zones. We give them. Track what triggered them — the chart or your emotions? Wait for price to come to your zone, not your nerves. Setups should be: ✔️ Structured ✔️ Strategic ✔️ Selective And remind yourself: You’re not here to trade a lot. You’re here to trade well. If this lesson helped you today: Drop a LIKE🚀 Leave a COMMENT on what you’re struggling with 📌 And FOLLOW us here: GoldMindsFX and GoldFXMinds
FOREXCOM:XAUUSD
by GoldMindsFX
6
A Profitable State of ConsciousnessA daring trader prepares for the epic battle he performs each day against the evil markets; those remorseless monsters who always seem hungry for money and ready to strip the poor traders of their modest capitals. Armed with his analysis, our brave trader steps into the dangerous mercantile ground and eagerly studies the sharp and treacherous price spikes, waiting for the exact moment to slay the bears and bulls that guard his beloved treasure. Just like yesterday, his adventure drains all his strength. It is the inevitable result of a turmoil of excitement and disappointment, which alternate along with his successes and failures. Elliot's uncertain waves control his emotions as much as the price; but our heroic trader, intoxicated with this cocktail of cortisol and epinephrine (stress hormones), cannot see how his mood is enslaved by the price flux. I decided to launch this series of psychological articles, as I think many trading professionals could greatly appreciate the opportunity to break these subjective patterns that prevent our minds from any clarity, calmness or wisdom when facing the markets. Attachment, blindness and madness If our emotional variability is directly dependent on the market tides, always dragged by our fallible expectations, we must realize that our minds are not working as the best tools we have to get the desired results. In fact, such mind has become our worst enemy and its chaos will lead us to a financial catastrophe. The essential hallmark of such state of mind is an absolute inability to stay detached, to maintain an honest view that distinguishes between our analysis of the market and the hopes we place upon it. Our minds become so subjected to the expectations of favorable outcomes that soon we see nothing more than the drama of our desires confronted with the price action. Trading profitably in any market requires clarity of vision —which is not omniscience—; lucidity to make good, responsible, sound and clever decisions. To risk less or more, to hold our position or to avoid further losses, to await a bigger profit or to settle for a humble one; these are everyday dilemmas that demand our highest degree of gravity and intelligence. But it is unreachable if our relationship with the market is just a stormy marriage. We have all witnessed or suffered the curse of emotional dependency in interpersonal relationships. Our hopes on the relationship and the beloved one weigh so much that soon we get blinded, completely unable to identify the true nature of our bond with the other. We don't understand what happens because we don't really want to. We prioritize our hopes and despise the truth because we fear that it won't indulge our desires. That's the same whimsical stance that damages our trading system and blinds us every day to the market's risks and opportunities. Pretty much like in a conjugal hell, this blindness comes from our disdain for the real thing and turns us into bitter warriors , challengers of a market where our role should be different: the role of analysts, researchers, observers... sages . Our financial belligerence is the reflection of our contempt against reality. But just as we despise objective truth, it correspondingly despises our whims. In the ancient symbology of Tarot there is a card that portrays accurately this typical mindset of an immature trader: The Fool —sometimes called “The Madman”—. It's the only card without number (it represents the zero) because it symbolizes the vagueness, the lack of values, the nothingness. Nevertheless this vacuity could be as well the beginning of everything... the starting point for a satisfactory future —because there lies a limitless potential. In order for this naive and dreamy wanderer to reach a good fate —in spite of his disorientation— he must first become aware of the wisdom he carries (unknowingly) in his bag, and he must commit to it. Otherwise, this poor dreamer will only continue to move merrily toward the abyss in front of him (because of his blindness). A madman is someone who persistently rejects his reality. Sadly, we all do that whenever we operate greedily in the markets, pretending that our dreams are more vital than the facts that must be studied and understood. Our anxiety is just the symptom of an awful state of mind that drives us merrily onward to the abyss. A venture of honesty Profitable trading is a luxury of the sober, even if others may enjoy some exciting strokes of luck in their intoxication —the same way they suffer strokes of bad luck—. The state of consciousness we need for consistent profitability contains virtues like patience, foresight, common sense and a mature kind of boldness that invites us to welcome calculated risks, admitting always in advance the possibility of losses. The foundation of this mindset is a radical, absolute, merciless honesty. We cannot deceive ourselves or dodge the essential questions if we really want to nurture a state of mind that moves us to a relative stability within the financial mayhem of the world. First and foremost, our stability is mental; then it gives rise, as a consequence, to the possibility —not the promise— of financial stability. Therefore, in psychological terms, the first step towards profitability in trading implies assessing (introspectively) whether we have to any degree these psychological traits that are undeniable signs of emotional maturity. How honest I tend to be with myself in my daily life? Am I distinguished by my patience and sound reasoning? Am I wisely cautious or just a coward? When I reveal bravery... is it just an impulsive recklessness or, instead, the self-confidence of knowing what I am facing and the maturity of responsibly exposing myself to that? If we don't possess these qualities in our ordinary life, it's useless to force their emergence when we operate in the markets. We have them or we don't. However much he fakes gravity, sooner or later the fool gets tired of his theater and starts breaking the plates, behaving in accordance with his true feelings. Psychic repression is not a real solution. However, if we acknowledge our lack of the necessary virtues, we are practicing already the most critical of them: honesty. It's the starting point for everything, the limitless potential always available to us —as long as we use the wisdom contained in our bag When we allow dreams of wealth to invade our minds, we don't care anymore about the practical managing of our opportunities. But trading may be a incentive to cultivate the psychological conditions we need in every area of our lives, in order to dissolve the dangerous infantilizing effect of our (unchecked) desires . If the first step is to examine ourselves, the second is to acknowledge our shortcomings: Maybe I am courageous, but I don't measure the consequences of my acts. Maybe I am patient, but not enough. Every psychic weakness is a source of future frustrations, because it always overrides the decisive factor of profitability: our lucidity. We work with uncertainties and probabilities. Those are the raw materials of our craft. That's why it's paramount to have a clean vision for our decisions: a sober and factual sight, protected against our own desires. We know, in our statistical adventure, that such sight cannot ensure the ultimate success; but it does ensure the optimum performance of our human faculties... that is already a great edge. In the worst case —in the case of losses— a clear advantage always arises from cultivating our emotional maturity: spiritual fortitude . We'll always be strong enough to accept losses (even the worst ones) with relative inner peace. In fact, we would always accept that possible outcome before it occurs. We won't be like those who fall from the heights following the crash of their dreams; because our dreams don't belong to mythic heights but here, within our hands... small and practical; comprehensible, manageable, human and fallible —just like us. ____ In next articles, we'll delve deeper into these psychological dynamics that strengthen or hinder the clarity of our judgment, and we'll explore practical proposals (mainly based on the Adlerian philosophy) that could help us reach a profitable state of consciousness.
Education
by adleriantrader
BASIC TRADING BOOKIn this basic trading manual, we will address over 50 questions along with their answers, aiming to familiarize you with the concepts commonly used by traders. Through this material, we will focus on providing a more technical and formal language to enhance understanding and application of these concepts in the field of trading What is a financial market? A financial asset is a security or simply a book entry, whereby the buyer of the security acquires the right to receive future income from the seller. Stocks, currencies, bonds, cryptos, etc. 1) What financial markets exist? Direct operation market. Buyers and sellers must meet directly for the purchase and sale of financial assets. Brokerage market. There are specialized brokers that put buyers and sellers in contact with each other, charging a commission for the service. Dealer market. The dealer buys the asset and sells it to a buyer, i.e. takes positions on his own account. His profit is in the margin he obtains between the purchase price and the sale price (Spread). Blind market (market makers). The market maker publishes the prices at which he is willing to make buying and selling operations. His profit is in the margin he obtains. 2)Who regulates the trading activity? Commodity Futures Trading Commission, better known by its acronym CFTC. It regulates and supervises the options and futures market. 3)What are shares? A share in the financial market is a security issued by a corporation or limited partnership by shares that represents the value of one of the equal fractions into which its capital stock is divided. The shareholder investor expects the company to receive the maximum possible dividends and, from this, to create a generalized demand from the investing public for the paper, which produces an increasing valuation in its share price. 4)What is Forex? The foreign exchange market, also known as Forex, FX or Currency Market, is a global and decentralized market in which currencies are traded. This market was born with the objective of facilitating the flow of money derived from international trade. 5) What are futures? A Future is a transaction agreed at a given maturity (every end of the month - being the last trading day of the month) at a given price. The buyer of a future has the expectation that the quoted value or SPOT, at maturity, will be at least above the agreed future value. The seller of a future has the expectation that the price or SPOT at maturity will be at least below the agreed future value. 6)What are options? Anything publicly traded can have options. Options, like stocks, can be traded every day, and this is what "liquidity" depends on, i.e., if there are no buyers and sellers, there are no options. One option could be: Call = Buy. Symbolically "C". Put = Sale. Symbolically "V". 7) What are cryptocurrencies? A cryptocurrency is a centralized digital financial asset that uses cryptographic encryption to guarantee its ownership and ensure the integrity of transactions, and to control the creation of additional units, i.e. to prevent someone from making copies as we would do, for example, with a photo or a banknote. 8) What is a Japanese candlestick? Candlesticks are a graphical representation of the financial market price in the form of candlesticks. They represent the price action over a set period of time. They are composed of a body and 2 shadows. 9) What is a candlestick chart? In economics, the candlestick or candlestick chart is a type of chart widely used in technical analysis of the stock market. It reflects: the opening price of a security, the closing price of a security, the high and the low of that security. 10) What does it mean to trade short? To trade short is to sell an asset that you do not own in the hope that its price will go down and you can close the trade at a profit. It is also called going short, taking a short position, going short. 11) What does it mean to trade long? Trading long refers to taking a buying position in a financial asset. It is the opposite of going short. 12) What is a trend? Market trends can be defined as the direction in which a market moves in a sustained manner over a given time interval. 13)What is a range? A trading range is a band defined by two horizontal lines (one at the top as "resistance" and one at the bottom as "support"), which encompasses the price values of a tradable asset over a given period. 14) What is a spread? A spread is an injection of purchases into the market that generate a strong upward price movement. 15) What is a lot? A lot is a standardized group of assets in which an investment is made. Often, the actual value of an asset or security prevents you from trading it in units. Example: One lot of gold equals 100 ounces. 16) What is a contract? a futures contract is an agreement, traded on an exchange or organized market, that obligates the contracting parties to buy or sell a number of goods or securities at a future date, but with a price established in advance. 17) What is the expiration of a contract? Futures contracts have an expiration date, which is the date on which the contract must be settled. As the expiration date approaches, the price of the futures contract is adjusted to reflect the price of the underlying asset at that time. 18) What is a swap? A swap is a contract in which two counterparties agree to exchange obligations or cash flows in order to achieve a benefit. 19) What is a tick? A tick is the smallest price change that can occur in a market. It is represented in points and is always placed to the right of the decimal place. Each market has its own tick and this measure is widely used in the futures market. 20) What is a pip? The term pip is short for "Point in Percentage". It is the measure of the smallest movement of the exchange rate of a currency pair in the foreign exchange market. 21) What is leverage? Leverage is a tool that allows to increase the potential return of an investment by contracting a debt. In the specific case of trading, the broker undertakes to advance the trader a capital to invest in an operation, against the deposit of a guarantee, which is called margin. 22) What is a market order? A market order is an order to buy or sell immediately at the best possible price. It needs liquidity to be filled, which means that it is executed against limit orders already created in the order book. 23) What is a limit order? A limit order is an instruction given to execute a trade at a level that is more favorable than the current market price. There are two varieties of limit orders: entry orders (which consist of opening a position) and close orders (which terminate an open position). 24) What is an indicator? Trading indicators are mathematical calculations that are represented in various forms on a price chart and can help investors identify certain signals and trends within the market. 25) What is technical analysis? Technical analysis is a system for examining and predicting price movements in financial markets based on historical data and market statistics. 26) What is fundamental analysis? Fundamental analysis is a methodology of stock market analysis, intended to determine the true value of the security or stock, called fundamental value. This value is used as an estimate of its value as a commercial utility, which in turn is supposed to be an indicator of the expected future performance of the security. 27) What are chartist figures? the word chartist refers to "chart" in English, so we can specify that the chartist figures are those candlestick formations that form certain patterns that allow us to foreshadow where the trend of an asset could go. 28) What is a support? Support is a level on a market chart where the price recovers in a downtrend. Let's say an asset is falling, but there is a price beyond which it will not fall. Every time it reaches that price, buyers take control and the market goes back up, this would be a support level. 29) What is a resistor? Resistance is an area on a market's chart that is difficult to break through to reach new highs. Resistance is the opposite of support. When an asset reaches it, sellers take control and drive its price back down. 30) What is a divergence? Divergences are behaviors of other assets that act opposite or similar to the main asset. These divergences will give us extra confirmation when trading. 31) What is a gap? In the stock market, a GAP represents a gap between two successive quotations, caused by the lack of transactions in a given period: this gap can also be represented by a news item that has a significant impact on the price of the security. 32) What is market risk? Trading in the stock market must be full of Risk, Daring and Passion. As a generalized meaning, every financial operation carried out by an investor involves some risk. Financial Trading takes place in an environment of uncertainty that may generate unfavorable results or results different from those projected. This risk has two sources: uncertainty and probability. 33) What is risk management? Risk management is a strategy that reduces risks in order to operate with peace of mind. 34) What are risk management strategies based on? In order to have a correct risk management, you must first define your monthly target. Second, we must define how much of our capital we are willing to risk. Third, look for an adequate ratio (risk/reward) that allows us to have a low percentage of success in the operations but that compensates the losses with the profits. And finally, how much we are going to risk per operation. 35) What is profitability? Profitability is the gain you make after selling an asset in which you invested money. This means that, if you buy a stock index futures contract costing $10 USD, which subsequently increases in price to $13 USD and you sell it, you would be earning a return of $3 USD. The profitability you can obtain in trading depends on several factors such as the level of risk to which you expose your operations, the capital, the type of market, the financial asset, the level of leverage you use, the experience you have and your strategy. 36) What is a trading platform? Trading platforms are tools that allow traders to trade over the network in real time. Each platform has its own features. Most of them offer information about the market, allow to schedule trades and offer different paid versions. 37) What is a timeframe? The time frame in trading is the time interval or time frame in which a price chart is analyzed and ranges from ticks to months. It is a fundamental concept in the technical analysis of the financial market, it is a period of time in which the price data of an asset is examined. 38) What is a trading strategy? Trading strategies are the action plans that traders use to trade in the financial markets. These strategies are based on technical analysis, fundamental analysis or a combination of both, and define the entry, exit, risk and capital management rules that the trader must follow. 39) Types of trading strategies There are many types of trading strategies, but they can be classified according to the time frame in which they are applied, the trading style they follow or the indicators they use Some of the most common classifications are as follows: According to the time frame: a distinction can be made between long term trading strategies (positional trading), medium term (swing trading) or short term (day trading or scalping). Each of these strategies involves a different level of frequency, duration and profit per trade. Depending on the trading style: a distinction can be made between trend trading strategies, which seek to follow the dominant market direction, or counter-trend trading strategies, which seek to take advantage of market changes or corrections. There are also neutral trading strategies, which do not depend on the market direction. Depending on the indicators: a distinction can be made between trading strategies based on technical indicators, which are mathematical tools that are applied to prices to generate buy or sell signals, or trading strategies based on price action, which are those that only use the patterns and formations drawn by prices on the charts. 40) What is stop loss? The stop loss is a type of conditional order, which executes the sale of a certain asset if its price falls below the market limit. It is the investor who sets this price level through his broker, thus establishing the maximum level of loss that he is willing to assume. 41) What is the trailing stop? The trailing stop is a type of order that makes your stop loss behave dynamically and evolve with the trend. The maximum loss tolerated is adjusted to the maximum price recorded, and is not anchored to the price of your entry. 42) What is take profit? Take profit refers to limit orders that seek to sell above the level that was bought or buy below the level that was sold. 43) What is benefit bias? Partializing profits refers to taking partial profits before reaching our take profit order. This is done to lock in profits in case our trade does not go to take profit. 44) What is breakeven? The breakeven is an operation that is performed by moving the stop loss price to a price that guarantees that if the market moves against it and the operation is exited by stop loss, no money will be lost. It is usually moved to the entry price of the trade. 45) What types of trading are there? Intraday trading Swing trade Scalping Long-term trading Arbitration Carry trade 46) What is intraday trading? Intraday trading is a short-term strategy that aims to profit from small price fluctuations during the day, rather than long-term market movements. 47) What is the swing trade? The swing trade is a type of trade that uses the charts that the price of assets draws session by session to detect trends, whether bullish or bearish, and follow the market, taking advantage of them to make money when the market rises or falls. 48) What is scalping? Scalping is a type of trading that involves buying and selling financial assets quickly. Traders who trade using this method often seek to generate small profits on each transaction and hold their positions for a short period of time. 49) What is psychotrading? Trading psychology is a term used to refer to the state of mind and emotions that can influence success or failure when investing in securities. It also represents the trader's capacity for self-control, based on the emotional component he/she employs in the decision making process. 50) What is an anchored account? Funded accounts, also called funded accounts, are used to start trading without a deposit, i.e. the company that offers them provides the initial capital so that the selected trader can invest in the markets, generally in financial derivatives. 51) What is a trade log? In trade logs, traders keep all the trades they make, with details of the trade such as date, asset, entry, stop loss, take profit, etc.
by BarboxTrading
1
First Republic Bank Continues Below $5Merely an update to my previous idea. And well... I started this idea before the bell, and it was $3.51 at the time. It's now $2.01 post as of typing this but that will be different already. I think I will just post this as is, because it's moving too quickly to make any rational conclusions. To be noted, every time $15 was broken, the market dumped it below preventing it from becoming proper support. Now, the HKEX:5 line is going to be doing similar tricks on it and FRC fell below it. Notice the two more recent dead cats I have professionally marked 😼 I did not have HKEX:3 price line on my previous chart, but I see that now there's a clear line there as well. Only psychological levels matter at this point. Same ideas: *It's a personal opinion of mine that psychological levels, whole number resistance and support, should have this much control over price action. Psychological levels have the most effect when there's extremes of emotions. I feel it's rather self-explanatory. It's either going towards zero or it's getting bought to prevent it from hitting the pavement. The variance in price alone is a clear indicator its in deep trouble while it was just downgraded to BB. Previous low on charts of $17.60 is notable, while HKEX:20 pertains to psychological significance. Below this, I see little more than psychological levels. HKEX:10 , double digits. HKEX:5 , where select exchanges consider a stock a penny stock. HKEX:1 , where the rest consider it a penny stock. You can label a ton of this chart a deadcat bounce here or there. Please add thoughts. I didn't see a Fibonacci ladder helping much because the price action was too chaotic. DYOR/DYOC.*
NYSE:FRCShort
by mrniemeier
Downgraded From BB+ To BBIt's a personal opinion of mine that psychological levels, whole number resistance and support, should have this much control over price action. Psychological levels have the most effect when there's extremes of emotions. I feel it's rather self-explanatory. It's either going towards zero or it's getting bought to prevent it from hitting the pavement. The variance in price alone is a clear indicator its in deep trouble while it was just downgraded to BB. Previous low on charts of $17.60 is notable, while $20 pertains to psychological significance. Below this, I see little more than psychological levels. $10, double digits. $5, where select exchanges consider a stock a penny stock. $1, where the rest consider it a penny stock. You can label a ton of this chart a deadcat bounce here or there. Please add thoughts. I didn't see a Fibonacci ladder helping much because the price action was too chaotic. DYOR/DYOC.
NYSE:FRCShort
by mrniemeier
2
What is the ultimate level of stop-loss in trading? For trading in stocks, futures, or forex, stop loss is a part of the trade. It only works effectively for investors if it is included and adhered to in every transaction. As we all know, stock investment requires three basic skills: stock selection, stop loss techniques, and profit-taking strategies. However, many investors do not pay enough attention to stop loss and profit-taking techniques, and ultimately regret not setting stop loss and profit-taking points. Today, we will introduce the highest level of stop loss techniques. First, the comprehensive stop loss method is the highest level of stop loss for stock investment. Therefore, when setting the stop loss point, the overall situation must be taken into account. There is no stop loss method that exists separately from the investor's overall operation. If the stock market develops beyond the investor's ability, it means that the stop loss measures must be implemented. Second, the highest level of stop loss is in the heart of the investor. When selling stocks, investors should not only rely on their eyes but also observe and analyze with their hearts. Many stock investors only believe in what they see when selling stocks. As a result, they often miss the selling opportunity when they finally realize the situation. Third, the stop loss method based on consolidation time. If an investor buys a stock with a heavy position, but the stock price does not rise much after buying, and it starts to move sideways after a period of time, it is important to note that if the consolidation time is too long, it means that the main force cannot use funds to boost the stock price. Fourth, stop loss based on real-time trends. If the main force of a stock has been washing the stock for some time and still has not controlled the stock when it is time to do so, it means that the main force has no intention of raising the stock price, and the future outlook is pessimistic. At this time, investors should take timely stop loss measures, otherwise, they will end up suffering losses. Fifth, stop loss based on trading volume. If an investor encounters a stock that is severely oversold, and many investors are trapped at a higher price, it is time to sell the stock. However, sometimes, observing the daily k-line chart, it is found that there has been a huge increase in trading volume in recent days. Note that this is a trap set by the main force to lure retail investors. In summary, the above is the relevant knowledge about stop loss techniques that we introduce to stock investors, hoping to help our friends in the investment field. FXOPEN:XAUUSD MCX:CRUDEOIL1! FX:EURUSD
TVC:GOLDEducation
by Ice_and_Fire1
1EARTH PATTERN BREAKOUT!BULLISH PATTERN CONFIRMED (IN MY OPINION) I see the psychology of market cycle having restarted and that means a drastic increase with the fools rally subsequent fall and buy time! Look of the psychology of market cycle and the similarity it has to the current chart. I see this passing one cent before Christmas so buy and hold is my game plan. This is my idea and my opinion not financial advise! Remember #DYOR and you have to sell to make profit and the reverse is true. #1earth breakout is here in my findings. Happy Holidays!
1Long
by Cryptonightowl
2
This mistakes can rip your depositEveryone goes through the path of their own mistakes, gaining experience. But maybe this video can help you avoid some mistakes in the future, if you have just entered the cryptocurrency market. The first mistake, and perhaps the most important, is not to analyze your actions. It doesn't matter if it's trading, futures trading, participation in an IDO or simple investments. When you make some action on the market with your deposit, and then lose or earn money, always analyze what you did right and where you made a mistake. You entered a trade without a stop loss and lost part of the deposit, you did not analyze the period of coin unlocks and bought at the wrong time, or bought on greed already at too high a price. You must understand that there is no more money in the market, it just flows from one hand to another. If today you have earned, then someone has lost. So, do not ignore your actions, keep a trading diary, tracking your portfolio for investment. Analyze why you are buying this coin, what you intend to receive and when to exit the project, options for exiting the project if everything does not go according to plan, where you will transfer your money if you exit the coin. What tools will you use while trading, what indicators and why. Also write down your psychological and emotional state at one time or another, this will help you invest money more rationally in the future. The second mistake is that you are simply trying to copy someone else's trading or investment strategy. Perhaps somewhere you saw someone's advice that should bring you millions, and you began to blindly repeat the same actions, but no one gives you guarantees in cryptocurrency. What worked in 2017 may not work in 2023 , you have to understand that. You must work out for yourself two investment strategies and a trading strategy. Conducting analysis and working on their improvement just for yourself. Because if one strategy becomes available to everyone, the market maker will do everything to ensure that this strategy stops working. That is why classical tech analysis practically does not work in the cryptocurrency market. Do not try to shift the responsibility for your income or losses to someone else. Your money is your decision. The third mistake Do not invest the entire deposit in one coin. Diversification. If you invested in 100 projects and 80 of them failed, then you will still end up with money. But if you invest in one project that fizzles you will lose all the money. I think the recent terra luna example is a great example. I’m afraid to upset you, but everything is possible in cryptocurrency, so even coins such as ether, cardano, polkadot, bitcoin are also not immune from falls. The fourth mistake is to sit 100% only in cryptocurrency. Even if it is a stable coin. The recent example with ust also perfectly describes this error. Nobody knows what might happen to usdt or stablecoins in general in the future. Therefore, withdraw part of the funds always into real fiat money in the real world. Buy something for yourself, your money should bring you emotions and you should see the physical result, and not just the numbers on your wallet. Don't wait until you reach a certain amount. Perhaps at the peak you can lose everything. You can’t fall in love with projects, those projects that were in the top 10 in 2017 are not in the top 100 now. Think about it. The cryptocurrency market is changing and new projects will appear every year. Earn money, not just the number of coins. Don't be afraid to take profits, you will never hit the bottom and you will never hit the top of the market. Fix gradually, and buy coins step by step. Creating your average check. Remember, many projects are launched to earn money by their creators. No one is interested in what ordinary investors would earn. Don't be greedy and always take profits. I had an example with ShibaInu. I bought this coin even before the listing on binance, and during the listing, I did not sell the coin without taking a profit of 200k. That's when the market crashed. I fixed part of the profit, and also part of the profit on its subsequent growth. But if I hadn’t been greedy, but fixed it and bought it back, but already cheaper, I could again earn another 200 thousand in November at the new peak of the market. In the end, I did not do this, because I succumbed to the information field that this project would grow. As a result, Shiba Inu lost capitalization from 42 billion to 14 billion. That is, someone fixed a profit and next time they will invest this money in a new project. Don't fall in love with projects Share with your friends who are just starting their journey in the cryptocurrency world. Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
Education
by Crypto4light
A mental challenge of a trading day. Trading day. A difficult one. GLOBALPRIME:GER30 The day started. I woke up a bit too early and lay in bed for the next hour and a bit. Rolled over and had a look at the night's notifications. Nothing important. I opened my laptop. This was the first mistake. A laptop with wifi and a trackpad. Suboptimal. I found my login, successfully logged in and adjusted my lot size. Next issue. I was trying to enter “20” lots. It didn’t work. Why? Minutes later, 2 mt5 restarts later I realized; the contract size was 100: 20 lots = 1000/point. Way too big. Oops. Luckily mt5 didn’t let me enter that. I need to pay more attention to little details. I quickly downloaded the Tradingview desktop app, installed and logged in. Opened DAX chart. Waited for open. Next mistake: directly after open I placed a trade. Not even 5 minutes had passed. I placed my trades according to the premarket data and 1 min chart. Terrible way to go about the open. I was short the DAX. 20/point - 35 ish point stop - 700$ loss. 1.5%. WAY TOO BIG. However I accepted the size and moved on. Why? My ego was bolstered after the fact that my trading stats were good. I had compiled them the day before. 50-60% WR with my winners being on average 3.5x bigger than losing trades. I didn’t even think about the size. Not great. Now I was in a position, taken off the 1min chart and premarket data, with a rough assumption that the markets were supposed to be headed lower. To make things worse the trade was placed on my laptop with a trackpad. By the time I placed the trade my risk had effectively doubled. Stop went from 17 to 35 points. The market had moved 17 points lower whilst I was still to get my trade in, on an idea that I had had for the last 2-3 minutes. To sell above the bars just before open. It took me 17 points. Ok. Now I was short. Too big position due to the delayed entry, off a one minute chart and mostly premarket data. Not much backed this trade up. And I risked 1.5% of my account on it? Why? Because I thought the DAX was headed lower. Side note: the index was up 1% premarket, following a 2% bull trend day. From a longer time frame there was nothing else to do but buy. But still I was short. Why? The previous day might give us the answer: here it is: A similar scenario. I wanted to be short. However with key differences to the actual trading day: They’re similar to each other, sure. But there’s major differences. The previous chart had had a 5% bear day before. Sellers were still about. A bearish continuation was highly possible. Favored even. It played out early. A 200 point move to the downside, set off by a weak open. (Another key difference to today) today had a bull bar, albeit with tail on top as the first bar, followed by a weak bear bar with lots of tail compared to the previous day of strong bear + weak bull. This was a key difference. Price action wise there was an exit for this trade at the close of the second bar of the session. Did I take it? No. It would’ve been a small looser 6-7 points (a 10 point winner if the entry had been proper). Why did I not exit? Well, I was hoping to see something. Something that had ingrained itself into my mind. So much so that I completely disregarded what was actually in-front of me. (Weakish) bull plus weak bear. I was frustrated and wanted to see something. That something never came and I was stopped out on the massive bull bar that followed. But how did the loss feel? And how did keeping the position open feel? Strangely, I was not uncomfortable. I took the trade confidently and was confident, against all odds. Alright, the trade wasn’t taken in the best way possible. However it was a relatively decent short. Moving on. Here is where the real problems begin. The trade before just didn’t work out. Maybe I was unlucky. A very big bull bar. 50 points. Big bull surprise. Ok, the bulls won this one. It will likely be a trend day up. This is what I told myself in the moment. What do you do on a trend day? There’s so many tempting counter trend entries. It looks weak. It just feels right to get short. It looks like the wedge, or double top or similar reversal pattern will work at any second. A tiny bit of risk for a huge reward, that’s what our brain loves. We love risking little and winning big. That’s the whole concept that the lottery exploits. If lottery tickets were to cost 100K with a chance of winning 200K, do you think anyone would be buying them? No, definitely not. Even though the chances of winning would be inherently bigger. Our minds love security and just the slightest chance of a big winner. It hinders one majorly in a trend day. What you should do is the opposite. Use a wider stop and just go with the trend. If it’s a strong trend, started by a bar like the above you can buy anything. Bull bars, bear bars, opens, retracements. The worst entries will become profitabel since the markets will creep their way up. I was aware of this. I knew what I had to do. LONG. Initially I opened a long on the close of that big bull bar. I closed it on the bar with the long tail. 15 point profit. Why? Because I saw a wedge on the 1 min chart. It was a good sell signal. Imagine this: a wedge (reversal signal), your risk would be about 10-15 points with a target of 30-70 points, depending on how long you want to be in the trade. Would you take it? I did. And the markets just went higher. This happened twice. I tried selling into the trend and was consequently always stopped. I was comfortable keeping the shorts. They felt good. This is another indication that something is wrong. Futures trading should feel uncomfortable. This was already said by Charlie D, portryed in the book "The legendary Bond trader". This is one of the most important parts: (This is taken from Tom Hoougard, an exceptional trader that has helped me massively, especially in the mental department): After two losses I realized. The pain had caught up with me. It was delayed. I went long. I added on the retracement. But then I left with stops at BE. I returned to being stopped out, after a three legged trend move up. 2 bulls flags. Unfortunate, however, I'm proud of that part. I stayed in. I overcame my instinct to take profit. It didn’t pay off this time, but it will eventually. I will be in on the next 200 point rally. This is one of the hardest mental games to play. If you're just slightly off, you won't win. How do I go about fixing this and making sure it doesn't happen again? A few suggestions: Take a step back. Stand up and leave the room, walk around and come back. You will have a brand new perspective on the matter at hand. Another idea: focus on the process: focus on what you see at hand. We all want one outcome: profit and winners. However we don't get that by imagining that outcome. How do we get it? We need to stay in the moment, we need to stay in the process. We need to see what is presented to us and act accordingly. This may be difficult to do in the moment, however one needs to be able to think clearly and execute on those thoughts in the trading moment.
G
by fxwithfreddi
CVM; A brief breakdown and review of the crazy weekDisclaimer Not financial advice, I literally wrote that gold is worthless if everyone just decides it to be so. However, I put some effort into showing what I see what I look at the action. Everything is in the picture. TradingView fix your shit so I could have done this better. Never think the shorts have to cover, Freddie Mac and Fannie Mae are proof of that, so if you enter into a fight, always be prepared to lose it. Sometimes the most striking pattern is the one that shouldn't be there.
AMEX:CVMLong
by DoctorFaustus